"Today (Monday) I approved the nationalization, expropriation and temporary occupation of Consolidada de Ferrys (Conferry)," Chavez said in a phone interview broadcast on state TV.

"It's a disaster. Let's nationalize it and get all those ships operating."

Chavez made the announcement days after returning from Cuba, where he received a fourth round of chemotherapy after having a tumour removed earlier this year.

In recent years Chavez has nationalized several companies in strategic sectors such as petroleum, electricity, communications, banking and mining.

The government most recently nationalized the gold mining sector in a move Chavez said was necessary to cut down on illegal mining and smuggling.